RedSky’s delight: Firm aiming for big score on Park Slope sale

Investment company asking $41M for properties it bought for $16.6M

719 Eighth Avenue and Ben Bernstein
719 Eighth Avenue and Ben Bernstein

RedSky Capital is asking $41 million for a pair of Park Slope rental buildings – more than double what it collectively paid for them.

The Brooklyn-based real estate investment firm, led by Ben Bernstein and Ben Stokes, acquired the buildings at 719-723 Eighth Avenue and 704 Eighth Avenue separately, in 2011 and 2012, for a combined $16.6 million.

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The properties, which can be converted to condominiums hold a total of 45 apartments and two office units. Of the rentals, 10 units are rent-regulated.

TerraCRG’s Ofer Cohen and Adam Hess are marketing the properties. [Crain’s]Mark Maurer